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Qatar to issue licence for new businesses on same day

DOHA, April 17, 2015

Qatar has passed a new law that will enable a business licence to be issues the same day it is applied on, helping to attract more foreign investment, according to a report.

The law, which will be implemented after being published in the official gazette soon, will give existing businesses six months to comply with its provisions, said the Peninsula report.

"The new law has many advantages for those willing to do business here like they can start up a business the same day they apply if their paperwork is in order," Sheikh Ahmed bin Jassim Al Thani, the Ministry of Economy and Commerce, was quoted as saying.

"This will substantially encourage inflows of foreign investment into the country," he said.

The law identifies four types of businesses that will be covered - commercial and industrial establishments and businesses that carry out both activities together; all cafes, restaurants, hotels and similar outlets; clinics and offices (consultancies included); and workshops and garages.

The validity of the licence will be one year renewable for a similar period or more, said the report.

The new law also bans a business from making announcements about its products and services or inserting media advertisements if their licence is not valid.

The fines for violations have been raised sharply in the new legislation considering that the old fines had become meaningless over time, it added.




Tags: Qatar | business | law | licence |

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